S’pore’s Nov unemployment rate continues decline: MOM, Latest Singapore News

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Unemployment charges in Singapore continued to say no in November final 12 months, in accordance with figures from the Ministry of Manpower yesterday.

The general unemployment rate was 2.5 per cent, down from 2.6 per cent in October.

The resident unemployment rate fell to three.2 per cent, from 3.4 per cent in October, whereas the citizen unemployment rate dipped to three.5 per cent, from 3.6 per cent beforehand.

“This indicates that our labour market is recovering steadily, with the economy rebounding from the recession in 2020 and GDP (gross domestic product) growing by 7.2 per cent last year,” stated Manpower Minister Tan See Leng in a Facebook put up yesterday.

“The increase in group sizes for dining out and the opening of more vaccinated travel lanes have allowed sectors hardest-hit by Covid-19 such as food and beverage services and air transport to begin ramping up capacity again. We expect hiring demand in domestic sectors to pick up with gradual relaxation of community measures.”

There have been 76,600 residents who have been unemployed in November, of whom 70,200 are residents.

This is down from the 80,000 unemployed residents in October, which included 72,200 residents.

According to The Business Times, November’s figures are the bottom since March 2020, when general unemployment was 2.5 per cent, resident unemployment was 3.5 per cent, and citizen unemployment was 3.6 per cent.

Dr Tan famous that the highway to restoration “is still an uneven one” and it is going to be paved with uncertainties.

“With the spread of the Omicron variant throughout the world, it is likely that Singapore will see a new wave of cases in the coming weeks. Businesses and workers need to be adaptable and flexible as the Covid-19 situation changes,” he added.

Jobseekers who want help can method Workforce Singapore and the National Trades Union Congress’ Employment and Employability Institute for profession matching companies.

Dr David Leong, managing director of PeopleWorldwide Consulting, a human sources search and advisory agency, stated the impact of the Omicron variant on jobs needs to be minimal.

“The scare factor is substantially reduced as data reveals that this strain is milder, though more infectious. Furthermore, our vaccination rate with boosters is high,” he added.

“Unemployment should not be a major concern in the coming quarters as businesses are looking to expand aggressively over lost time.”

As working from residence has turn out to be more and more entrenched, extra companies and employers would have factored this in, and extra jobs may even be reconfigured to go well with the work-from-home setting, Dr Leong famous.

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